CryptoQuikRead_052 - Mining Centralization Scenarios

An episode of The Cryptoconomy Podcast

In a crazy conversation from last night's meet-up, I learned of discussion of a purposeful re-org, a 51% attack, on the #BCH chain by 2 miners. After a few hours scrambling to pull details together this morning, this is what I've discovered so far. Don't miss this Guy's Take episode all about the #Bcash 51% attack!
These are the links to the conversations and posts that I found relevant information at:
https://honest.cash/kiarahpromise/sigop-counting-4528
Article on hash power dominance of BTC.TOP:
https://bitcoinexchangeguide.com/is-bitcoin-cash-under-a-51-percent-attack-as-one-bch-mining-pool-nears-over-half-control/
Reddit Threads:
https://www.reddit.com/r/btc/comments/bpwlgx/got_this_in_my_inbox_a_couple_of_minutes_back/
https://www.reddit.com/r/btc/comments/bq6g5h/so_does_this_mean_that_we_unintentionally_killed/
https://www.reddit.com/r/btc/comments/boysr1/bch_upgrade_postmortem/
https://www.reddit.com/r/btc/comments/bqah5p/psa_everybody_stay_alert_im_getting_a_bch/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reddit%2Fpreh+%28Bitcoin+-+The+Internet+of+Money%29
Found after I finished recording the episode (will update with details in the next show):
https://honest.cash/Cheshire_Cat/bitcoin-cash-guardians-and-pirates-in-sight-3334

Is Bitcoin's security going to be unreliable, volatile, or could it even fail entirely when we lose the block subsidy? Or is #Bitcoin set to operate smoothly with a natural transition from newly minted bitcoin, to transaction fees? Exploring the security of Bitcoin in the next economic era, with Dan Held's amazing piece, "Bitcoin's Security is Fine."
Don't forget to check out Dan Held's other work, the amazing set of links throughout the article, and drop some applause below:
https://blog.picks.co/bitcoins-security-is-fine-93391d9b61a8
Don't forget to check out Dan's Held's asset management company, Interchange.

The brilliance of the price system is in coordinating the values, deeply limited knowledge and scarce resources precisely to their highest value need without having to understand or be aware of every single change in supply, alternatives, and uses of those resources among the economic participants. It is specifically because we only receive the most important piece of information, its new value in relation to other things (the price), that we can so quickly align ourselves with the new state of the world. Don't miss the conclusion of Hayek's work, "The Use of Knowledge in Society."
Visit the full piece, and the collection of other great work, economic analysis, news, & more over at fee.org.
https://fee.org/articles/the-use-of-knowledge-in-society/#0

Is the idea of a central decision maker for the economy just a problem of gathering all the right information and having the most intelligent in control? Or is there a far more fundamental problem with the entire notion?
Continuing our #Bitcoin economics week, today we dive into a piece on a concept we haven't yet covered. What is the true nature of the knowledge involved in economic activity, and how do we utilize that knowledge to solve the problem of economic organization? A brilliant work by F.A. Hayek and made available by the amazing team over at FEE.org, we cover and expand on Hayek's "Use of Knowledge in Society."
Visit the full piece, and the collection of other great work, economic analysis, news, & more over at fee.org.
https://fee.org/articles/the-use-of-knowledge-in-society/#0

Diving into a great piece by Conner Brown exploring the subjectivity of value, and why Bitcoin's lack of "intrinsic value" is a benefit, not a hinderance. Does this aspect of Bitcoin, and the nature of money align with history? Does it challenge great economic thinkers & their theories? Or is it a natural next step in the growing possibilities of the digital world? Don't miss a fun episode starting off another week on Bitcoin economics!
Dont forget to follow Conner Brown on Twitter and explore his other work on Medium. Drop some major applause for this excellent piece at the link below:
https://medium.com/@connerjbrown1/bitcoin-has-no-intrinsic-value-and-thats-great-e6994adbfe0f
And a reminder to donate if you would like to contribute to the "Bitcoin Attackers Wiki" bounty being organized by JW Weatherman here:
https://twitter.com/JWWeatherman_/status/1130146806132822016

Today we cover all the incredible new developments coming to Lightning and what they will mean for the future the protocol! First we tackle the blog post from @Bitrefill introducing the entire list, from AMPs & submarine swaps to trampoline payments & rendezvous routing. Then I discuss at length further details about each and how these tools together may blur the gap between Bitcoin & Lightning, and turn it into a singular experience. Don't miss today's show!
If you don't know much about how Lighting works, I encourage you to listen to yesterday's episode where I talk more specifically about what it is, why it will benefit the network, and how we know we can trust it.
https://anchor.fm/thecryptoconomy/episodes/GuysTake_014---The-What--Why---How-of-Lightning-e41pbe
Don't forget to check out Bitrefill.com for an awesome service where you can buy mobile minutes, gift cards, games, LN liquidity, & tons of other stuff with Bitcoin, Lightning & other cryptocurrencies. Check out the original post on their blog below to find links on each of these for further exploration.
https://blog.bitrefill.com/the-hottest-lightning-network-tech-features-for-2019-and-beyond-dbaaac6ddfa4

Today, in preparation of & to understand the significance of the vast array of new features and developments coming to lightning, we cover a full overview of the What, Why, & How of the Lightning Network.
What exactly is it, why do we need it, and how exactly does it work? A huge thank you to Aaron Van Wirdum, Pierre Rochard, and Rusty Russell for making this understandable for me, we dive into a high level approach to understanding what’s happening in lightning. In addition, despite forgetting to mention them in the podcast, a shout out to Christian Decker, Andreas Antonopoulos & Bryan Vu who have also produced great great content that helped in my understanding of lightning as well.

With a really cool and succinct article from Darren Kleine (@_DKleine), today's read is on the "sins" of debt and usury, and how a good or bad monetary system will either encourage its corruption, or protect society from its abuse. Don't miss a great little read and fun discussion all about the nature of debt, money, and a new financial world built on Bitcoin.
The Ancient Sin of Debt: How Bitcoin Can Make Amends
Don't forget to follow Darren and explore the many other great pieces he has written on the topic of Bitcoin & money, plus check out the other work constantly being produced over at TheNewPaper.io.

Today we cover more specifically the consequences and risks of a divorce between miners & the network of nodes. What could the miners do, are sybil attacks proof that nodes worthless, what exactly are the incentives that keep the different players in this ecosystem working together? Don't miss another fun discussion on what defines Bitcoin, and the role that proof-of-work & validation play in this revolutionary technology.

When we dig to the very base elements of Bitcoin, we find it is merely digital points. What make these integers different from identical ones on billions of other computers? It is the rules that restrict the editing of those specific integers we call Bitcoin, in other words, it is the network of validating nodes that define it. In this episode you will hear Part 1 of my argument as to why.
Don't forget to check out @StopAndDecrypt's relevant article series and the amazing graphics for visualizing the relationship between nodes, miners, and the network by visiting the page below:
https://medium.com/@StopAndDecrypt

Today we take a stroll through a collection of known errors, clarification, and terminology changes from the original whitepaper made available thanks to David A. Harding. The chain of signatures, "one-CPU-one-vote," the distinction between nodes and miners, and much more. This will have some important details we will reference later in the week while exploring validation and nodes on the Bitcoin network, and what it means to "define" the Bitcoin system.
Check out Harding's Github page for the full list and other work he has put together, and follow him on Twitter so you don't miss other great content and discussion:
https://gist.github.com/harding/dabea3d83c695e6b937bf090eddf2bb3?utm_source=share&utm_medium=ios_app
https://twitter.com/hrdng

A great piece just full of fun analogies on how to imagine the force of nature that is #Bitcoin. Don't miss our first piece by @dergigi on the show today, exploring Bitcoin as a force of ideological gravity, and how the network codifies a concept into an explicit set of rules to define the game we play. Today's read, Bitcoin's Gravity!
Check out the other work by @dergigi on his personal page below, and also drop some applause on this article and go through the tons of links to the other great work he has spread throughout the piece!
https://dergigi.com/bitcoin/
https://medium.com/@dergigi/bitcoins-gravity-e1674ad9f8e4
Here are the other smattering of links & great reads we have covered in earlier episodes:
• Unpacking Bitcoin's Social Contract by @Hasu
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_198---Unpacking-Bitcoins-Social-Contract-e2oct5
• Visions of Bitcoin by @Hasu & @nic_carter
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_120---Visions-of-Bitcoin-e2ndqq
• Crypto-incrementalism vs Crypto-anarchy by @tonysheng
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_104---Crypto-Incrementalism-vs-Crypto-Anarchy-e2ndrd
• The Hodlonaut Defense Fund
https://weareallhodlonaut.com/
• The Long Road to SegWit
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_054---The-Long-Road-To-Segwit-e2ndsv
• SegWit2X Bugs Explained
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_144---SegWit2x-Bugs-Explained-e2ndq0

The conclusion of the Adamant Capital report from Tuur Demeester & Michiel Lescrauwaet on the current state & sentiment of the Bitcoin markets. What could send the price lower? Where are we in the financialization process of the Bitcoin market? Is there still a possibility that Bitcoin becomes a globally recognized reserve asset? Find out in Adamant Capital report:
Bitcoin in Heavy Accumulation
Don't forget to check out the Adamant Capital website & Blog for more data, and download the full report to see the numerous charts and data that is difficult to cover in the audio:
https://www.adamantcapitalfund.com/blog/
https://docsend.com/view/jwr8qwx
Follow the team on Twitter so you don't miss anything:
https://twitter.com/TuurDemeester
https://twitter.com/MLescrauwaet
https://twitter.com/Adamant_Capital

Today & tomorrow we will be going through the Adamant Capital report by Tuur Demeester & Michiel Lescrauwaet on the current state and sentiment of the Bitcoin markets, and the data that backs up their analysis. Is the bear market over? Should we be searching for bull horns breaking the horizon? Find out in Adamant Capital report:
Bitcoin in Heavy Accumulation
Don't forget to check out the Adamant Capital website & Blog for more data, and download the full report to see the numerous charts and data that is difficult to cover in the audio:
https://www.adamantcapitalfund.com/blog/
https://docsend.com/view/jwr8qwx
Follow the team on Twitter so you don't miss anything:
https://twitter.com/TuurDemeester
https://twitter.com/MLescrauwaet
https://twitter.com/Adamant_Capital

In the follow-up to yesterday's article, we are covering Nicolas Dorier's second article on Neutrino, detailing the systemic risks of widespread SPV, and breaking down the different types and specific consequences of various node setups on the network. With the controversial stance that SPV threatens self-sovereignty more than even custodial wallets, Nicolas cedes no ground. Don't miss another great article!
A brief shout out to the Casa suite in the commentary as well.
Don't forget to head over to @nicolasdorier's Medium page and drop some applause on this article, plus check out the other great work he has done on other topics:
https://medium.com/@nicolasdorier/neutrino-is-dangerous-for-my-self-sovereignty-18fac5bcdc25

Today we read an article from developer @nicolasdorier that illustrates why Neutrino might not be the panacea some seem to treat it as. It certainly has its benefits, but its important to look critically at every proposal, to ensure we understand what is, not what we wish to be.
Why I Don't Celebrate Neutrino
Don't forget to thank Nicolas for letting me cover his work and head over to his Medium page and drop some applause on this article, or get a head start on his follow-up that we will read tomorrow:
https://medium.com/@nicolasdorier/why-i-dont-celebrate-neutrino-206bafa5fda0
https://medium.com/@nicolasdorier
Disclaimer: I did not read this article 100% verbatim, as Nicolas's first language is not english, there were multiple slightly odd wordings when read aloud. I corrected minor word choice/order on a few occasions to make the sentences clearer, but without altering the meaning as far as I interpreted it. Any mistakes in this regard are my own.
Previous Episode Introducing Neutrino: https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_169---Neutrino-The-Lighter-Side-of-Lightning-e2ndp4

Today we bring Tim K (@bootstrapbandit) on the show to talk all about the Lightning Network & a new tool he built at Paywall.Link. Don't miss this fun conversation about the positives and negatives of lightning, how easy it is to build for, and what the potential for this network is going forward. Enjoy!
Don't forget to follow @BootstrapBandit on Twitter and check out what he is building over at Paywall.link.

Today we grab a section out of one of the many incredible works by Murray N. Rothbard to discuss the idea of marginal utility and why money must be a good, and actually is not a unit of measure. As value can only be measured as relational to another good, money follows the same law of diminishing marginal utility. Find out why with our read & discussion of Rothbard's "Toward a Reconstruction of Utility and Welfare Economics" from the incredible library at the Mises Institute.
Check out the full work to dive much deeper into this topic and so much more at Mises.org and the link below:
https://mises.org/library/toward-reconstruction-utility-and-welfare-economics-0#2

The full audio version of "The Case for Electronic Cash" by Jerry Brito.
Abstract
Cash is more than a method of payment. It is a fundamental tool for individual privacy and autonomy, and it is necessary for an open society. This paper shows that a cashless economy is a surveillance economy. It also argues that removing the option to freely transact without intermediation greatly limits our economic self-determination, placing our economic lives in the hands of financial institutions and governments. This paper presents several case studies demonstrating the dangers of a completely intermediated payments system and concludes that electronic cash is a tool that should not only be tolerated, but fostered and celebrated.
The Case for Electronic Cash PDF
Coincenter.org
Jerry Brito on Twitter
Cryptoconomy.Life

Lightning is complicated, difficult to use, sometimes doesn't work properly, requires a lot of learning and experimentation, and is still a risky place to hold Bitcoin funds. Doesn't this make it a protocol destined to obscurity and disuse? Doesn't it mean that better, simpler options will simply replace it, and Bitcoin is to fail from its extensive limitations? Find out all the ways I find Lightning *doesn't* do its job well, & what I think it means for the future in today's Guy's Take episode!
Mentioned in the show:
paywall.link
pollofeed.com
schnorr signatures
previous Guy's take on the complexity of the internet

Even with #Bitcoin, are we destined for a future with intermediated payments? Will that give us a different color of the same system we're stuck with today, or will Bitcoin still prove to be a revolution in financial trust? Lets dig deeper into the objections to Bitcoin Banks in Part 2 of @nic__carter's "How to Scale Bitcoin (without changing a thing)."
Another huge thank you to Nic for this work and sparking an important discussion! Drop some major applause on this work and share it with others who have yet to read Nic's amazing body of work! https://medium.com/@nic__carter/how-to-scale-bitcoin-without-changing-a-thing-bc4750dd16c7

"I believe that institutional scaling presents an under-appreciated scaling vector, and it is quite possible to employ it without significantly compromising Bitcoin’s assurances."
Don't miss today's article, another fantastic read by Nic Carter (@nic__carter), on the Finneyan view of scaling Bitcoin for its highest value proposition; creating a settlement network with the potential of correcting our far-too-frequent problems of monetary inflation & systemic insolvency. "How to Scale Bitcoin (without changing a thing)"
We will finish this up with Part 2 tomorrow, but in the mean time please drop some major applause on this work and share it with others who have yet to read Nic's amazing body of work! https://medium.com/@nic__carter/how-to-scale-bitcoin-without-changing-a-thing-bc4750dd16c7

Today we go through a recent blog post by Jameson Lopp and the Casa team that goes into the clever, meticulous design used to ensure the security and recoverability of the mobile key for their Keymaster app. Don't forget to check out the Casa blog to see the other exciting announcements and ongoing developments from the Casa team.
https://blog.keys.casa/casa-keymaster-security-mobile-key-overview/

Today we reach the conclusion of Hoppe's incredible piece on the nature of fractional reserve banking and the contradictions of fiat money. With the final section, "From Deposit & Loan Banking to Fractional Reserve: The Devolution of Credit." Plus a really fun discussion as a follow-up to the entire, 3 part work.
"How is Fiat Money Possible." There is no place like Mises.org. Don't forget to check out the vast collection of knowledge and information made available for free over at the Mises Institute!

Continuing from yesterday's episode with Part 2 of our journey through Hoppe's amazing piece on the nature and origins of the fiat money system. Could such a system ever work in a competitive market, or are there extremely specific conditions and legal restrictions which make the contradiction of irredeemable paper money, temporarily sustainable? Listen to find out.
"How is Fiat Money Possible." Don't forget to check out the vast collection of knowledge at Mises.org for this work and many more like it.

"Fiat money is the term for a medium of exchange which is neither a commercial commodity, a consumer, or a producer good, nor title to any such commodity: i.e., irredeemable paper money."
Another great suggestion by @stephanlivera, we begin our dive into Hans-Hermann Hoppe's extended piece on the Devolution of money and credit, "How is Fiat Money Possible." Don't miss an incredible read and fun discussion that follows.
Don't forget to check out the vast collection of knowledge at Mises.org for this work and many more like it.

Building on the principles discussed in our exploration of the consequences of a society without cash, we apply it to a broader principle of how the power to exit acts as a check on abuse and centralization. And who better to cover this topic with, than Nick Szabo? Today we read and discuss Szabo's blog post from 2007 titled, Exit and Freedom.
Don't forget to follow Nick on Twitter and explore the enormous body of work he has contributed over decades at his blog:
http://unenumerated.blogspot.com/2007/08/exit-and-freedom.html

The conclusion of The Case for Electronic Cash by Jerry Brito. Today we close out this amazing piece with the moral case for why we should not only refrain from demonizing and restricting digital cash, but we should foster and celebrate it! A huge thank you to Coin Center for this work, and don't forget to check out the incredible work they do.
The original work can be downloaded here: https://coincenter.org/files/2019-02/the-case-for-electronic-cash-coin-center.pdf
Also, don't forget that there are tons of footnotes and references that I do not cover in the audio for further digging into this topic. They can all be found in the full report.

Continuing with Part 2 of "The Case for Electronic Cash" from Jerry Brito and CoinCenter.org. The consequences of total dependence upon financial intermediaries and how it is already affecting people today.
Don't forget to check out CoinCenter.org for tons of information on all topics around Bitcoin and cryptocurrency technologies. The original work can be downloaded here: https://coincenter.org/files/2019-02/the-case-for-electronic-cash-coin-center.pdf
Also, don't forget that there are tons of footnotes and references that I do not cover in the audio for further digging into this topic. They can all be found in the full report.

Today we begin the long, and rewarding journey through Jerry Brito's & Coin Center's Report on "The Case for Electronic Cash." This is an incredible work present several case studies to explore the trade offs of privacy and individual autonomy, the nature of an open society, the consequences of a fully intermediated society, and how cash plays a critical role in it all. This will be a multi-part series that is not to be missed! Begin Part 1...
Don't forget to check out CoinCenter.org for tons of information on all topics around Bitcoin and cryptocurrency technologies. The original work can be downloaded here: https://coincenter.org/files/2019-02/the-case-for-electronic-cash-coin-center.pdf
Also, don't forget that there are tons of footnotes and references that I do not cover in the audio for further digging into this topic. They can all be found in the full report.

What if there was a clear and obvious reason that the state monopolizes the production of money, that after understanding, you simply cannot unsee? What if the story we are all told of governments and central banks protecting the economy from crises, is actually the perfect opposite of what's really happening? Another great piece from Mises.org, by Hans Herman Hoppe; "Why the State Demands Control of Money."
Don't forget to check out the invaluable work made available by the Mises Institute over at Mises.org.

Today we cover another great piece on the topic of what can be learned from the history of P2P protocols and their successes & failures. Written by John Backus @backus, his article "Minimum Viable Decentralization," lays out a concept that may have been the deciding factor that separated the winners and losers in the file sharing revolution. Why did BitTorrent succeed even without a discovery mechanism and its lack of privacy, when technology like Freenet, or iMule offered vastly better privacy and security than alternatives? Listen to find out.
Plus, don't miss my commentary on how this concept, plus others from recent reads, could be applied to the Bitcoin/Lightning stack as well as other altcoins and blockchain applications. There is an entirely new ecosystem at stake, not learning from the failures of the file sharing years could be a recipe for disaster. Don't miss this one.
Follow John Backus on Twitter (https://twitter.com/backus) and don't forget to drop applause on his amazing collection of works over on Medium (https://medium.com/@jbackus/minimum-viable-decentralization-d813dcf653fc)
Listen to the previous episode by Backus mentioned in the commentary here (https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_141---Fat-Protocols-Arent-New-e2ndq4)

Another excellent piece from Su Zhu and Hasu at uncommoncore.co and a great introduction to the dynamics and risks at stake in the cashless society. Is the cashless society the frictionless future we want? Or is it frictionless mass surveillance and frictionless negative interest rates? Cash may serve a far more important role than merely a means of payment. Find out more in today's episode, reading:
Bitcoin is a Hedge Against the Cashless Society
Don't forget to follow and check out the many other great articles from these two excellent authors. Plus, click their tags on Cryptoconomy.life to find the many other works of theirs we have covered on the show.

Today we have another great chat with Scott from The PayPod discussing the impact and philosophy of Bitcoin! Check out Soarpay.com, the sponsor for The PayPod and where the are hosted to find many other episodes of their show discussing new technology in the world of digital payments. And don't forget to follow them on Twitter.

Today we go on an extended walk through some of the most epic days of Bitcoin's and the Cryptoconomy's history! Telling some of my personal experiences and the crazy times that were had. Do you know about the origins of some of Bitcoin's biggest memes? Do you know what started the Blocksize Wars? Do you know when the first shitcoin was born? All this and much more in our discussion of my Cryptoconomy Holiday Calendar.
If you want to celebrate these holidays with me, and want this on your own calendar, feel free to grab the info off of the website. It is obviously free to use and share around. If you would like to save yourself the work, then I have made a calendar you can easily download and import to your own so you can be notified of every one! Find it on Cryptoconomy.life below:
https://cryptoconomy.life/calendar/
Mentioned at the beginning of the podcast were Ansel Linder with the Bitcoin & Markets podcast, and the guys over at the Citizen Bitcoin podcast. If you haven't explored their work they have some awesome stuff to check out. Not to be missed!
https://twitter.com/btcmrkts
https://twitter.com/CitizenBitcoin

"The need for privacy and the long-term sustainability of Bitcoin without block rewards are perhaps two of the most most alarming issues surrounding Bitcoin today." - Lucas Nuzzi
Could Schnorr signatures be the puzzle piece that eliminates a major limitation on the costs and ease of privacy at Bitcoin's base layer, while at the same time, incentivizing a robust fee market, and enabling a wide range of more dynamic smart contracts? The next soft fork in Bitcoin could be the most exciting and significant change that Bitcoin ever sees. You don't want to miss this great piece by Lucas Nuzzi covering the ins and outs of Schnorr signatures and how it will change the game for Bitcoin privacy.
Drop as many claps as you can on his article below and remember to check out the tons of other great articles of his and others posted on the Digital Assets Research publication:
https://medium.com/digitalassetresearch/schnorr-signatures-the-inevitability-of-privacy-in-bitcoin-b2f45a1f7287

"That is the key innovation of Bitcoin: It detaches property rights from the legal system and the monopoly on violence. For the first time, we can have property that does not rely on a local authority to enforce and protect. It is easy to conceal, defend, divide, move, and verify — all by yourself, granting you the highest level of personal sovereignty." @Hasu & @suzhu
Don't miss Part 3 of the "Skeptics Guide to Bitcoin" breaking down how Bitcoin enables property rights under an entirely new paradigm of social institution. Is Bitcoin a competitor to VISA and Paypal, or something else entirely?
Check out the full article, plus the rest of this series and many other great articles by clicking the link:
https://uncommoncore.co/bitcoin-and-the-promise-of-independent-property-rights/
Subscribe to @Hasufly and @suzhu's medium pages and Twitter tags so you don't miss their next piece!
For Parts 1 & 2 of this series in audio if you've yet to cover them, listen at the links below:
https://anchor.fm/dashboard/episode/e2ndo3
https://anchor.fm/dashboard/episode/e2oct5

"To the casual observer, most of bitcoin’s life is boring — months go by with relatively little action. Then when conditions are just right, bitcoin explodes into life, growing massively in size, and hijacking the consciousness of observers." - Brandon Quittem
Today we're diving back into the series by Brandon Quittem that peers from a bird's eye view at the nature of Bitcoin, and explores its patterns and growth through the framework of a mycelial network. Can fungi teach us something about Bitcoin? Can it teach us something about ourselves? Find out in Part 2: Bitcoin is a Social Creature
View the graphics and drop some applause on Brandon's article over on his medium page:
https://medium.com/@BrandonQuittem/bitcoin-is-a-social-creature-mushroom-part-2-3-6a05c3abe8f0
You can find the link to read or listen to Part 1 here:
https://anchor.fm/dashboard/episode/e2sarg
And the link to read or listen to Hasu's article referenced in this piece here:
https://anchor.fm/dashboard/episode/e2oct5

Disclaimer: If you are an ardent supporter of government projects, believe in the moral fiber of politicians, and in the power of voting to produce the greater good, then you will likely not enjoy this episode. You were warned ;)
It feels like a good day for a long discussion comparing the trust model of government money, and the trust model of a decentralized, proof-of-work blockchain. Aka - Bitcoin vs. The Dollar. So lets take a dive into the various systems, their consequences, and the incentives that envelop both the rules and monetary policy that govern the Bitcoin system, and those that govern our political and banking institutions. Don't forget to check out Cryptoconomy.life to explore more episodes like this plus hundreds of Bitcoin articles made available in audio format.
Spoiler alert: The dollar doesn't fair so well.

"Ethereum’s #1 problem is not a problem of product-market-fit but one of engineering soundness. Ethereum architecture is based on a flawed and unscalable idea: it assumes that “smart contracts” need computations to be replicated on thousands and thousands of machines."
Today we cover Hugo Nguyen's Twitter-thread-turned-blog-post on the flawed fundamental philosophy of the Ethereum system and what the core value provided by a public blockchain network really is.
Drop some applause and explore the many other great posts from Hugo over at his Medium page and follow him on Twitter:
https://medium.com/@hugonguyen/why-ethereum-architecture-is-flawed-d4eefd15db3e

So what is the outcome of decentralized disruption? Who are the winners when there is a shift to an entirely new paradigm? Don't miss the conclusion of Simon Morris's excellent series on the lessons #Bitcoin & Crypto can learn from the history and challenges of the BitTorrent ecosystem.
Somehow I managed to entirely miss the Post Script at the end of the article which deserves a nod! So when you head over to follow @Simonhmorris on Medium and applaud this series don't forget to check out the post script at the end of Part 4!
https://medium.com/@simonhmorris/decentralized-disruption-who-dares-wins-bittorrent-lessons-for-crypto-4-of-4-f022e8641c1a

In the context of Part 2, knowing that the true value of decentralization is in breaking rules, Simon Morris now explores the consequences of a systems "intent," the incredible complexity and balance it requires to sustain them, & the paradox of making changes to a system whose power resides in its capacity to resist change. Listen to Part 3 of Simon's series on the lessons we can learn from BitTorrent.
Lets see if we can't add 300 claps to Simon's series by heading over to the original article and going trigger happy on the applause button at:
https://medium.com/@simonhmorris/intent-complexity-and-the-governance-paradox-bittorrent-lessons-for-crypto-3-of-4-1d14ac390f3f

Today we cover Part 2 of Simon Morris's excellent series on the lessons we can take from BitTorrent to better understand the goals and value of Bitcoin and Crypto. If it doesn't break the rules, then why does decentralization even matter? Don't miss the excellent article, with a few exciting updates from today about Lightning Network development, and followed by my commentary on all the different ways I think #Bitcoin is "Breaking the Rules."
Click that applause button like crazy to throw some digital claps at Simon Morris on Medium (also follow him on Twitter) for this great series!
https://medium.com/@simonhmorris/if-youre-not-breaking-rules-you-re-doing-it-wrong-bittorrent-lessons-for-crypto-2-of-4-72c68227fe69
To check out the #Lightning developments discussed early in the episode, follow the links below:
https://twitter.com/alexbosworth/status/1108414132997353472
https://twitter.com/lightning/status/1108398809481003008

Bitcoin is an incredibly novel technology, there are few technologies that can boast the revolutionary impact that Bitcoin potentially has. However, there is still much to be learned from its predecessors and benefactors. One of those being the resilient and disruptive ecosystem of the BitTorrent protocol. Simon Morris, a 10 year veteran of the company, BitTorrent Inc., brings us a 4 part series exploring exactly what we can learn from our Peer-2-Peer history, and the challenges that faced an industry breaking technology.
Find Part 1: Why Bitcoin Mattered, on Simon's Medium page below, along with the rest of this excellent series. Don't forget to drop some claps on this one!
https://medium.com/@simonhmorris/why-bittorrent-mattered-bittorrent-lessons-for-crypto-1-of-4-fa3c6fcef488
You can also check him out on Twitter below:
https://twitter.com/simonhmorris

If you missed the insanity that happened during the "Block Wars" that extended from 2014 all the way to late 2017 with the split of Bitcoin Cash, then you aren't going to want to miss this article. With a thorough overview of both the history and core ideas behind the numerous ideas and personalities wrapped into the blocksize debate, Lucas Nuzzi lays out the full picture with his article "The Resolution of the Big Block Experiment."
Drop some applause on this excellent write-up by heading over to https://medium.com/digitalassetresearch/the-resolution-of-the-big-block-experiment-e1df3e38d03f and while you are there be sure to check out his more recent article on Schnorr Signatures and Bitcoin privacy!
Follow @LucasNuzzi on Twitter to stay up on the other incredible work he is doing.

Another short but excellent blog post covering the incredible work being done by the team over at @CasaHODL. For the first time we are seeing a user friendly application of one of Bitcoin's core differentiators. Sovereignty as a service is a beautifully simple idea with huge implications. Don't miss this short episode and check out the other awesome tools and products at https://blog.keys.casa/

The risks and benefits of chargebacks, the nature of the trade-off between contract enforcement & ensuring privacy, the elements of splitting contractual elements (the ripped dollar bill) to minimize trust, pseudonymous credit ratings, and so much more in our completion of Szabo's essay, “Formalizing and Securing Relationships on Public Networks.” More amazing foresight into the problems of smart contract design, detailed more than a decade before Bitcoin even existed.
Link to the Nakamoto Institute for hosting this incredible work:
nakamotoinstitute.org/formalizing-securing-relationships/

Listening to an essay from 1997 that details specific challenges of something as distant as the smart contract embedded into the Lightning Network shows the unbelievable foresight of the cypherpunks. As well as the dedication to seeing their vision become a reality. Don’t miss the continuation of Szabo’s amazing piece, “Formalizing and Securing Relationships on Public Networks.”
Link to the Nakamoto Institute for hosting this incredible work:
https://nakamotoinstitute.org/formalizing-securing-relationships/
Don't forget to check out the many different elements discussed in the commentary if you want to learn more.
Neutrino:
https://cryptoconomy.life/2018/10/18/neutrino-the-lighter-side-of-lightning/
Eltoo:
https://cryptoconomy.life/2018/05/01/eltoo-a-simplified-update-mechanism-for-lightning/

"... The movement from static to dynamic media promises to bring about a fourth cost revolution in the related areas of jurisdiction, trust, and security. Impacts on business will be felt in law, accounting, auditing, billing, collections, contracts, confidentiality, and so on: in short, the entire nature of our business relationships will be altered in ways only partially foreseeable."
- Nick Szabo
Diving into another excellent piece from Szabo on establishing and updating how we create, enforce, and control relationships in the world of cyberspace. Check out the full essay at the Nakamoto Institute:
https://nakamotoinstitute.org/formalizing-securing-relationships/
And don't forget to follow Szabo on Twitter:
https://twitter.com/NickSzabo4

Cypherpunks write code!
Last year we received a published paper detailing the advantages of the new MuSig Multisignature Scheme, this year we get the code. From the incredible minds at Blockstream, don't miss an exciting development in cryptographically securing and verifying ownership among increasingly complex & private groups of individuals.
To explore numerous links and further reading, as well as the other amazing work from Blockstream, check out the full article below:
https://blockstream.com/2019/02/18/musig-a-new-multisignature-standard/

If you haven't heard it yet, don't miss an awesome discussion all about Lightning and holding the Torch with the guys from the Rollo and Slappy Show! Check out @RolloMcFloogle and @Slappy_Jones_2 for more awesome content & definitely check out the amazing playlist for a deep understanding of Bitcoin over at 10HoursOfBitcoin.com

Another great Twitter thread to cover, this time from Jason Smith (@iwearahoodie) covering 5 incredible lessons learned after a year of being seriously into #Bitcoin. Are they the same things you've learned?
Follow Jason and read the full thread here.

"The human threat model is intended to help humans better understand the threats to that they face and the tools available, and in active development, for defense. Threats are assumed to be any activity designed to prevent humanity from accomplishing it's mission to make the world delightful." @jwweatherman

"The Bitcoin Threat Model is intended to help developers, investors and users better understand the security of Bitcoin. Threats are assumed to be any activity designed to prevent Bitcoin from accomplishing its mission to become cash (including a unit of account)." @jwweatherman

The conclusion of the epic "Human Threat Model," by @jwweatherman. An exploration of the attack surface that exists in the very nature of being human, and how #Bitcoin could both change the fundamental relationship that we have with thieves and governments, as well as open up avenues to actually exploit the selfishness of corruption to take actions against itself. Another exciting read from JW!

Today we begin the "Human Threat Model," by @jwweatherman. An exploration of the attack surface that exists in the very nature of being human, and how #Bitcoin could both change the fundamental relationship that we have with thieves and governments, as well as open up avenues to actually exploit the selfishness of corruption to take actions against itself. Another exciting read from JW!

Continuing with Part 2 of the journey through the "Bitcoin Threat Model" to be followed by the "Human Threat Model," both by @jwweatherman. An exploration and extensively sourced work on the many different attack vectors and adversarial conditions within the Bitcoin system, their likely effect, and the security measures in place to mitigate them.

Beginning the journey through the "Bitcoin Threat Model" and the "Human Threat Model," both by @jwweatherman. An exploration and extensively sourced work on the many different attack vectors and adversarial conditions within the Bitcoin system, their likely effect, and the security measures in place to mitigate them.

A lot of announcements and tons of exciting stuff to talk about in this episode! Plus our read of the just released Casa Browser Extension, inspired by the Lightning Joule extension, which is one of the coolest additions to the Casa suite yet, plus they are now Open Source!! Don't miss an exciting episode with today's QuikRead!
Check out the official announcement article & other posts over at blog.keys.casa. And follow Nick Neuman, Jameson Lopp, Jeremy Welch, Alena Vranova, Blake Neuman and others to stay up on the incredible stuff happening at Casa! These guys are changing the game on the daily!

A follow-up to our previous episode "#Reckless to Wumbology" discussing the incredible development and new tools coming to the Lightning Network. As well as an exploration of the vast complexity of the internet and how, surely, it could never work. Get ready for a long rant in this Guy's Take episode XD

Want to know more about Neutrino, Submarine Swaps, Dual Funded Channels, Atomic Multi-Path Payments, Splicing, Sphinx Send, Eltoo, Channel Factories, Watchtowers, and the incredible list of new products coming for the Lightning Network? Look no further, Arjun Balaji (@arjunblj) & TheBlockCrypto (@theblock__ + @mdudas) brings us a walk through the major developments in Lightning with "From #Reckless to Wumbology."
Don't forget to check out TheBlockCrypto.com and the tons of links to explore in the Full Article.

Today we go through a short but awesome run down of the guiding principles at Casa. This company is one to watch very closely over the coming years, and a few things from their recent post make this very clear.
Check out the full article and follow Casa on Medium Here.
Don't forget to grab your Casa BTC/LN Node if you haven't yet, and of course, be sure to follow them on Twitter.

"Today, there exists over 180 currencies across 195 countries. The reason for such an anomaly is simple: there is no free market for currencies. Currency markets have been restricted by governments in order to maintain financial control."
A great start to a 3 part series by Misir Mahmudov and Yassine Elmandjra. View the full article here, and don't forget to follow the authors on Twitter at @misir_mahmudov & @yassineARK.
Bitcoin: Winner Takes All, Or Winner Takes Most? Listen to find out.

An amazing piece of work from the Coinmetrics.io team using the full node data and some serious digging to uncover the fraudulent minting of over 2 Million BTCP coins! A detailed analysis of how and when the coins were created, and how it managed to go unnoticed for such a long time.
See the article in full plus the accompanying charts and data proving their findings at:
https://coinmetrics.io/bitcoin-private/
Check out the incredible research by the CoinMetrics team at their website and follow them on Twitter.

Taking a dive into an awesome tweetstorm from @danheld about the context, purpose, and beginnings of Bitcoin and whether it meets "Satoshi's Vision," or if it even matters.
Follow Dan on Twitter and check out the full thread below:
https://twitter.com/danheld/status/1084848063947071488
For some more fun regarding Satoshi's Vision and whether BCH is any nearer or further from that ambiguous idea, check out my own article -
How Many Forks Does it Take to Get to the Center of Satoshi's Vision?

The complete reading of Iterative.Capital's incredible and thorough thesis, "What's Really Driving the Cryptocurrency Phenomenon?"
For more excellent research and news in the Bitcoin/Cryptocurrency space, visit and subscribe at https://iterative.capital/
For OTC trading at industry low prices, visit https://i2trading.com/
And for an extensive collection of Bitcoin related educational and written content available in audio, visit http://Cryptoconomy.Life

A look at the crazy past, the present, and the future of Bitcoin and where I think things are headed. Bitcoin is here to stay and there are 10 amazing years of Proof-of-Survival I can point to as evidence. Happy Birthday Bitcoin, may the next 10 years be just as crazy!

"Bitcoin is a living system constantly changing based on environmental stimuli. True understanding is a moving target unlikely to ever be hit.
Attempting to answer the question “what is bitcoin,” I found exploring parallels to the natural world to be particularly illuminating." - Brandon Quittem
Don't miss this dive into understanding Bitcoin by exploring some of the most powerful systems in the natural world that evolve and survive against all odds. Bitcoin Is A Decentralized Organism by @bquittem
Drop some applause on the article and check out the graphics and many links to videos, other articles, and websites that expand and elaborate on the fascinating world of mycelia at: https://medium.com/@BrandonQuittem/bitcoin-is-a-decentralized-organism-mycelium-part-1-3-6ec58cdcfaa6

After setting up and experiencing The Lightning Network firsthand as part of the Casa Node crew and our own little pool of channel liquidity and management, we bring 3 guests on the show to talk all about Lightning, what they are working on, and what they hope for the future. Don't miss this one!
And don't forget to bookmark LightningHood.com (@lightning_hood) for all your Bitcoin & Lightning resources!
Our Guests:
https://twitter.com/Crpt0PuraVida
https://twitter.com/petoveritas
https://twitter.com/CoinBeezy
(silent 4th guest) https://twitter.com/curlydream60e
Mentioned on the show:
https://lightningjoule.com/
https://tippin.me/
https://althea.org/
https://www.gotenna.com/
https://samouraiwallet.com/
https://www.opennode.co/
https://www.wasabiwallet.io/

“by having the double accounting system rely on and be backed up by the triple accounting system you get the throughput of the double with the security and trustlessness of the triple.” -Todd Kronenberg
Don't forget to check out the original article and follow @TK_CodeBear on Twitter and Medium:
https://medium.com/coinmonks/why-bitcoins-lightning-network-is-the-ingenious-10dc1ad9ccae
https://twitter.com/TK_CodeBear

"Auditing controls might fairly be called the security protocols of capitalism… [but] auditing is in deep conflict with efforts towards greater privacy." -Nick Szabo
Don't miss a great read and conversation on auditing, confidentiality, privacy, and how Bitcoin has changed the game. Another great piece by @nickszabo4.
This article can be found on Szabo's Blog unenumerated.blogspot.com or at the Nakamoto Institute's website at:
https://nakamotoinstitute.org/confidential-auditing/

"When Satoshi Nakamoto invented bitcoin, he did not invent a new social contract. Satoshi did something else—he leveraged technology to solve many problems of past implementations and implemented the old contract in a new and better way." - @hasufly
Hasu brings us another great article with Part 2 of "The Skeptics Guide to Bitcoin." What becomes clear when we understand both Bitcoin and money as a social contract? Can it answer some of the more complex philosophical debates within the Bitcoin ecosystem? Listen to find out.
Don't forget to follow @hasufly on Medium & Twitter and drop some major applause on the article:
https://medium.com/@hasufly/bitcoins-social-contract-1f8b05ee24a9?sk=27e8cf65d45c46ffae1466ce2ac31b48

We hit a major milestone in the show! Thank you to everyone who has stayed with us and contributed to the show! Today I'm covering the past & future of the show and new things coming to Cryptoconomy.Life!
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:
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"While sovereign money has undeniably led to a lot of abuse, as evidenced by instances of hyperinflation, seizures or capital controls, the absence of all control brings problems of its own."
Today we begin an excellent short series by @zhusu and @hasufl with their article "An Honest Account of Fiat Money." Join us today for a great read followed by my lengthy rant about the ethics of a money susceptible to political inflation. XD
Drop some applause on the article and get a heads up on tomorrow's episode with part 2 on @Hasufly's medium page:Part 1 - An Honest Account of Fiat MoneyPart 2 - Unpacking Bitcoin's Social Contract
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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Curious about where to start or what to possibly focus on when learning Bitcoin, Lightning, and the fundamentals of the most important tools in this ecosystem? Look no further, today we read and discuss Pierre Rochard's excellent piece that breaks it all down.
Don't forget to save the article in your bookmarks for later reference and drop some mad Medium applause for the awesome collection of links: https://medium.com/@pierre_rochard/understanding-the-technical-side-of-bitcoin-2c212dd65c09
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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What are the mental barriers that cause prospective consumers to drop off from interacting with an e-commerce business? How can we measure or estimate the worry caused by excessive forms, ads, and barriers to the content being sought. Another piece by @NickSzabo4 to add to our collection. Don't miss "Estimating and Minimizing Consumer Worry."
Check out this work and many more on Szabo's Blog:https://unenumerated.blogspot.com/2015/10/minimizing-consumer-worry.html
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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"Far from being a novelty or prototype, Bitcoin has shown itself to be a threatening alternative to present-day organizational conventions and to the large commercial businesses that rely on them."
The Epic finale of the piece by the team at Iterative.Capital. Investigating the investment outlook and consequences of a world with Bitcoin. Don't miss the conclusion of "The Cryptocurrency Phenomenon."
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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Support the show:Shop.Trezor.io Affiliate LinkThe Drunkard’s Walk: How Randomness Rules Our LivesMastering Bitcoin

"Thus, Bitcoin is the first free, non-commercial software project with the intensity of a commercial product."
Today we hit Section 6 of the Iterative.Capital Thesis exploring the incentives and feedback loops that allow the Bitcoin network to accrue value, bring in developers, and expand its hardware environment. Don't miss this one as we approach the conclusion of this thorough work!
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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"In practice, the Proof-of-Stake approach proves to be problematic in systems where the coins “at stake” were not created through Proof-of-Work."
Today we explore how Proof-of-Work enables the Bitcoin system to achieve consensus without any central point of control. Concluding Section 5 of the incredible Thesis by iterative.capital, "Machine Consensus Via Proof-of-Work."
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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Support the show:Shop.Trezor.io Affiliate LinkThe Drunkard’s Walk: How Randomness Rules Our LivesMastering Bitcoin

"How does Bitcoin use a peer-to-peer network of computers to enforce the rules agreed upon by human participants?"
Today we explore how Proof-of-Work enables the Bitcoin system to achieve consensus without any central point of control. Section 5 of the incredible Thesis by iterative.capital, "Machine Consensus Via Proof-of-Work."
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
Donate Bitcoin to help the show & provide Liquidity for my #Lightning Node:31sBReBuAA9QznVRRrcsjdGp9oc4ajnS4t
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Today we explore how the Bitcoin incentives bring together disparate groups of developers, technical operators, and users to maintain and expand the Bitcoin system in a free and collaborative environment. Continuing with Section 4 of the iterative.capital Thesis on The Cryptocurrency Phenomenon.
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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A short episode today introducing the video walkthrough of the Initial Setup of the Casa Bitcoin & Lightning Node, and configuring your router to be both accepting requests for blockchain data for Bitcoin & routing payments for Lightning! A must for any Node Operators out there.
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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Today we continue through Section 3 of the Iterative.Capital Thesis on the Cryptocurrency Phenomenon exploring the Open Source process, how free software dominated the internet, and how the hacker movement effectively destroyed the institutional monopoly on research and development.
Check out the other awesome work and subscribe to their newsletter by heading over to iterative.capital
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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Continuing our journey through the incredibly thorough and knowledgeable work by iterative.capital that focuses and clarifies the highly misunderstood narrative around the Cryptocurrency Phenomenon. Don't miss Part 3!
Check out the other awesome work and subscribe to their newsletter by heading over to iterative.capital
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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Continuing our journey through the incredibly thorough and knowledgeable work by iterative.capital that focuses and clarifies the highly misunderstood narrative around the Cryptocurrency Phenomenon. Don't miss Part 2!
Check out the other awesome work and subscribe to their newsletter by heading over to iterative.capital
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
Donate Bitcoin to help the show & provide Liquidity for my #Lightning Node:31sBReBuAA9QznVRRrcsjdGp9oc4ajnS4t
Support the show:Shop.Trezor.io Affiliate LinkThe Drunkard’s Walk: How Randomness Rules Our LivesMastering Bitcoin

Today we start our journey through the incredibly thorough and knowledgeable work by iterative.capital that focuses and clarifies the highly misunderstood narrative around the Cryptocurrency Phenomenon. Don't miss this one!
Check out the other awesome work and subscribe to their newsletter by heading over to iterative.capital
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
Donate Bitcoin to help the show & provide Liquidity for my #Lightning Node:31sBReBuAA9QznVRRrcsjdGp9oc4ajnS4t
Support the show:Shop.Trezor.io Affiliate LinkThe Drunkard’s Walk: How Randomness Rules Our LivesMastering Bitcoin

" Government involvement is usually limited to mediating the clash between incumbents and innovators. Rarely is government the incumbent." -Zack Voell
Think Bitcoin is apolitical? Think again. You don't want to miss this one by Zack Voell: Sorry, Bitcoin is Still Anarchist
Don't forget to follow Zack and drop some applause on the article over on Medium.
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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There is this wonderfully vague idea that I endlessly hear about called “Satoshi’s Vision.” I’ve read many differing supposed “visions” of Satoshi’s and the only constant between them is that it was also the opinion of the person explaining it to me.Taking a stroll through the history and development of Bitcoin Cash in my article: How Many Forks Does it Take to Get to the Center of Satoshi's Vision?
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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"What we’re witnessing with digital assets is a move back toward bearer assets — now that users of these protocols have figured out how to trade them quickly, digitally, and without any possibility for the types of errors that lead to costly reconciliation processes." - Fidelity Digital Assets
Plus a few updates regarding the release of our first QuikRead Collection and more fun with the awesome Casa Lightning Node!
Don't forget to drop some major applause on the medium article and follow Fidelity Digital Assets (@DigitalAssets) for developments in the top professional custody solutions:https://medium.com/@FidelityDigitalAssets/custody-in-the-age-of-digital-assets-95799f347016
Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76
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"As investors reallocate their current investment portfolios to include bitcoin, trillions of dollars in market capitalization appreciation becomes an inevitable result" -Nik Bhatia
Another excellent piece from Nik Bhatia exploring the major developments in the Bitcoin and Digital Assets Management industry. If you aren't bullish yet, you might be after listening to this one.
Drop some applause on the article and follow Nik Bhatia for more great work below:https://medium.com/@timevalueofbtc/the-business-of-bitcoin-cold-storage-148fba7f1255
Other great works by Nik Bhatia covered in this show:Interview with Nik BhatiaThe Bitcoin Second LayerTime Value of BTCThe Bitcoin Risk Spectrum
_________________________________________________
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"If you build a system meant by its very nature to dis-intermediate third parties and exist independent of governments and legal systems, you have an identity problem." -Nic Carter
Another excellent piece by Nic Carter exploring the very idea of identity in a decentralized system and the ongoing battles for the vision of Bitcoin. Don't miss it!Let's see if we can drop another 1,000 claps on his article! Follow the link below and don't forget to follow @nic_carter on Twitter:https://medium.com/s/story/what-is-it-like-to-be-a-bitcoin-56109f3e6753
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Another short update episode releasing the very first long read in full! Visit the website to listen, download, or read Szabo's Shelling Out! Plus the upcoming works I'm tackling, and more updates on the way to Cryptoconomy.life
Now Available in Long Form: Shelling Out - The Origins of Money
Support the show:Shop.Trezor.io Affiliate LinkThe Drunkard’s Walk: How Randomness Rules Our LivesMastering Bitcoin
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"The precursors of money, along with language, enabled early modern humans to solve problems of cooperation that other animals cannot – including problems of reciprocal altruism, kin altruism, and the mitigation of aggression. These precursors shared with non-fiat currencies very specific characteristics – they were not merely symbolic or decorative objects." - Nick Szabo

First impressions of the Casa Node and first issues standing in the way of my Lightning playtime. The pain is real. Plus, a few updates and what we have in the works for Cryptoconomy.Life in this brief GuysTake episode!
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@Beautyon_ takes us through the realizations & predecessors that set the stage for Bitcoin and the incredible impact this technology has had, and will continue to have on the entire world. #Bitcoin, the revolution, 10 years and running!
Don't forget to check out Beautyon's other work, drop some applause on the article, and follow @Beautyon_ on Twitter:Bitcoin at 10Twitter.com/Beautyon_Youtube.com | Bitcoin Matters Podcast
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Part 4! Today we finally conclude Nick Szabo's essential work, Shelling Out: The Origins of Money! A critical piece to understanding money, its rich history, and key properties through the eyes of the cypherpunks who revolutionized it.
Before you do anything else, drop everything a follow @NickSzabo4 on Twitter. And don't forget to check out his other amazing work on his blog:https://unenumerated.blogspot.com/
Also check out the Nakamoto Institute for a collection of reading that provides a solid foundation for understanding the incredible potential of #Bitcoin:https://nakamotoinstitute.org
Support the show:Shop.Trezor.io Affiliate LinkThe Drunkard’s Walk: How Randomness Rules Our LivesMastering Bitcoin
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Part 3! of our journey through Nick Szabo's incredible work, Shelling Out: The Origins of Money. A critical piece to understanding money, its rich history, and key properties through the eyes of the cypherpunks who revolutionized it.
Before you do anything else, drop everything a follow @NickSzabo4 on Twitter. And don't forget to check out his other amazing work on his blog:https://unenumerated.blogspot.com/
Also check out the Nakamoto Institute for a collection of reading that provides a solid foundation for understanding the incredible potential of #Bitcoin:https://nakamotoinstitute.org
Support the show:Shop.Trezor.io Affiliate LinkThe Drunkard’s Walk: How Randomness Rules Our LivesMastering Bitcoin
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Part 2! of our journey through Nick Szabo's incredible work, Shelling Out: The Origins of Money. A critical piece to understanding money, its rich history, and key properties through the eyes of the cypherpunks who revolutionized it.
Before you do anything else, drop everything a follow @NickSzabo4 on Twitter. And don't forget to check out his other amazing work on his blog:https://unenumerated.blogspot.com/
Also check out the Nakamoto Institute for a collection of reading that provides a solid foundation for understanding the incredible potential of #Bitcoin:https://nakamotoinstitute.org
Support the show:Shop.Trezor.io Affiliate LinkThe Drunkard’s Walk: How Randomness Rules Our LivesMastering Bitcoin
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Today we begin our journey through Nick Szabo's incredible work, Shelling Out: The Origins of Money. A critical piece to understanding money, its rich history, and key properties through the eyes of the cypherpunks who revolutionized it.
Before you do anything else, drop everything a follow @NickSzabo4 on Twitter. And don't forget to check out his other amazing work on his blog:https://unenumerated.blogspot.com/
Also check out the Nakamoto Institute for a collection of reading that provides a solid foundation for understanding the incredible potential of #Bitcoin:https://nakamotoinstitute.org
Support the show:Shop.Trezor.io Affiliate LinkThe Drunkard’s Walk: How Randomness Rules Our LivesMastering Bitcoin
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Alok Menghrajani, security engineer at Square, details their Multisig & Hardware key management system for the cold storage of customer's Cash app Bitcoin balances. Plus their decision to embrace the principles of the Bitcoin culture and open source their efforts to the benefit of the whole industry.
Check out the blog to applaud the article and see the author's other work, and don't forget to follow @Alokmenghrajani & @CashApp on Twitter:https://medium.com/square-corner-blog/open-sourcing-subzero-ee9e3e071827https://twitter.com/alokmenghrajani
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Vijay Boyapati details in a Twitter thread, the brilliant but subtle shift that cypherpunks discovered in the economic concept of scarcity that made the revolutionary technology of #Bitcoin possible.
Follow Vijay on Twitter and share this thread below:Twitter.com/real_vijayTwitter.com/real_vijay/scarcity_seems_like_a_simple...
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We are in the midst of a global collapse in trusted institutions. #Bitcoin and blockchain tech enable networks & economies that mitigate dependence on these intermediaries in the world's largest market for trust: Money.
In today’s episode, hear @avichal’s great piece detailing the trends and cultural shifts that have primed the world for a technological revolution.
Twitter.com @avichalReimagining Trusted Intermediaries - @ElectricCapital
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As Bitcoin continues to succeed against all odds, there are more and more claims of how its “unfair” that early investors have profited. Dan Held argues in an excellent summary that Bitcoin was, and still is, the fairest distribution possible. Today’s CryptoQuikRead!
Don't forget to check out Dan Held on Twitter and his other work:Twitter - @DanHeldArticle: Bitcoin's Distribution Was Fair
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Today we chat with @Real_Vijay about Bitcoin maximalism, growing internet censorship, standing up to Google, the troubles of BCH, the fall of Bitmain, and much more!
Don’t miss today's chat with Vijay Boyapati!
Follow him on Twitter so you don't miss the epic Tweet threads and check out his other work:Twitter @real_vijayMedium.com/@vijayboyapatiMises.org Vijay Boyapati
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“It’s a shame, then, given all the things he was saying that indeed needed saying, that the useful shade Roubini throws is sullied by a number of misrepresentations, exaggerations, and outright falsehoods” -Daniel Goldman
Don't miss the awesome work by @DZack23 and others at the Abacus Crypto Journal:The Abacus Crypto Journal
The other episodes/work mentioned within for digging a little deeper:How To Critique bitcoin - A Guide (Nic Carter's FUD dice)CryptoChat_001 With Daniel GoldmanThe Verg Hack Explained: By Daniel GoldmanVerge Hack Part Deux: By Daniel Goldman
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There seems to be something inherently complementary between scarce digital goods in the video game world, and the systems that ensure the scarcity of cryptocurrency tokens. But do games like Fortnite and other incumbents have any incentive to adopt a crypto model? Today we read Tony Sheng’s article exploring the ins and outs of scarce digital goods, and why if crypto does ever make waves in the gaming world, it will have to start from the ground up.
Don't forget to check out Tony Sheng's other work on his website and follow him on Twitter:https://www.tonysheng.com/crypto-adoption-gameshttps://twitter.com/tonysheng
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Another awesome post on the Lightning Labs blog, this time breaking down Alice’s search for privacy and a great mobile user experience with Bitcoin. Neutrino might be the solution she has been waiting for! Listen to find out more.
Check out the blog for other information and details on the lnd and desktop wallets! Plus if you aren't following the accounts below on Twitter you are missing out:Neutrino: The Lighter Side of LightningBryan Vu @bvuLightning LabsOlaoluwa Osuntokun @roasbeef
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Lightning is slowly coming into its own. With simple working wallets, and dedicated plug-and-play nodes around the corner, its time to talk about the #LightningNetwork apps that I think could make waves in the early days. Listen to this "Guy's Take" episode to find out more!
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“this system of prices is not an organized institution or structure that was created by any single person’s design. It was simply a natural consequence of trade between people even before money in a barter economy.” - Hayek
A short article from FEE.org introducing the workings of the market price system by Jacob Dowell.
Links to the article and other great works to dig deeper into this topic of study:How Prices Keep Us From Squandering ResourcesJacob Dowell's pageHuman Action on Mises.orgRobert Murphy's Choice
Later Additions:Economics in One Lesson - Henry HazlittBasic Economics - Thomas Sowell
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Today we read “Strong Federations, Foundation of Liquid, Whitepaper Release,” on Blockstream.com & take a deep dive all about the system that secures the operation of @Blockstream’s Liquid Sidechain. If you want to know more about Liquid, don’t miss this episode!
Check out the official @Blockstream page for more details and the Whitepaper on Strong Federations to dig even deeper into the processes involved in securing the first production #Bitcoin sidechain:https://blockstream.com/2017/01/16/strong-federations-paper-released-liquid.htmlhttps://blockstream.com/strong-federations.pdf
Authors Johnny Dilley, Jonathan Wilkins, and Marta Piekarska
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Blockstream's Liquid, a federated, production sidechain, has officially launched with exchanges accounting for more than half of the global Bitcoin exchange volume! In today's episode we read and expand on the official announcement from the Blockstream Blog, as well as dive into what it could mean with a short Twitter thread from @LucasNuzzi. Don't miss a fun episode.
Check out and follow the official @Blockstream Blog and @Excellion to stay up on their incredible work:https://blockstream.com/2018/10/10/liquid-launch.htmlhttps://twitter.com/Excellion
And see the other threads discussed in the episode below:https://twitter.com/LucasNuzzi/status/1050181396591972353https://twitter.com/PMillerCoin/status/1050197853421723648
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Privacy isn’t just about being safe and keeping our data secure, its also a deeply fundamental aspect of being human. The unconscious pressures from being endlessly surveilled create a cage for our minds, killing creativity and expression in place of social conformity and obedience.
Today we read Alex Hardy’s article “Why Privacy Matters"https://proofoftake.substack.com/p/why-privacy-matters-proof-of-take-006https://twitter.com/CantHardyWait
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The Bitcoin Optech Newsletter takes a break from their usual technical foray to summarize and discuss the amazing new proposals and technology at the Scaling Bitcoin Conference in Tokyo. Don't miss the awesome stuff in today's episode.
Don't forget to join the Newsletter to stay up to date on the awesome work Bitcoin Optech is doing, and follow them on Twitter:https://bitcoinops.org/en/newsletters/2018/10/09/https://twitter.com/bitcoinoptech
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Would you give up $1,000,000 in Bitcoin today, to guarantee its success and that our future was one of sound, decentralized money? My answer would have to be 'yes,' and here's why.
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“Privacy is not secrecy. A private matter is something one doesn't want the whole world to know, but a secret matter is something one doesn't want anybody to know. Privacy is the power to selectively reveal oneself to the world.” - Eric Hughes
Required reading for anyone entering and exploring the Cryptoconomy. If you are looking for the ideas that brought this technology to life and started a movement, and now a technological revolution. Here is Eric Hughes' declaration of intent, A Cypherpunk's Manifesto.https://www.activism.net/cypherpunk/manifesto.html
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“Although there was never complete agreement on any one thing, this was an open forum where personal privacy and personal liberty were ultimately placed above all other considerations.” -@PetriB2
Check out Petri's work and follow him on Medium and Twitter (and drop some appluase for this article) at the links below:https://medium.com/swlh/the-untold-history-of-bitcoin-enter-the-cypherpunks-f764dee962a1https://medium.com/@Petri.basson/https://twitter.com/PetriB2
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“I have always believed that to really understand something and where it is going, you have to understand where it came from.” -@PetriB2
Today we read the first of Petri's short series on the untold history of Bitcoin and the blockchain. Plus, my experiences with Bittorrent and first discovering Bitcoin.
Check out the full article and his other work on his LinkedIn and/or his medium page:https://www.linkedin.com/pulse/untold-history-blockchain-petri-basson/https://medium.com/@Petri.basson/the-untold-history-of-blockchain-30238a89be5d
Don’t forget to follow him on Medium and Twitter:https://twitter.com/PetriB2
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“The dissent did not come in the form of a parchment scrawled with a feathery pen or an assembly of diplomats, but in the form of the Blockade Runner. These ships were built for two things: speed and capacity, in that order.” -@CarCampIt
Check out the full article here:https://www.blockdelta.io/bitcoin-blockade-runner-of-the-information-age/
Follow him on Twitter and don't forget to check out the Friends Against Government Podcast:https://twitter.com/CarCampIthttps://friendsagainstgovernment.podbean.com/
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"Numbers generated by such a process are deterministic, but they pass statistical tests of what is considered “random”. Pseudorandomness, in turn, became one of the building blocks of a brand new field — also a child of the computer age: modern cryptography.” - Hugo Nguyen
Check out Part 2 on Hugo's article series and drop some appluase for the excellent work:https://medium.com/@hugonguyen/bitcoin-chance-and-randomness-ba49a6edf933
Follow him on Twitter and Medium:https://twitter.com/hugohanoihttps://medium.com/@hugonguyen
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“By attaching energy to a block, we give it “form”, allowing it to have real weight & consequences in the physical world… In other words, PoW is the bridge between the digital & the physical.” - Hugo Nguyen
Today we read Part 1 of Hugo Nguyen's series on Bitcoin's Fundamentals.Drop some applause on the full article and follow Hugo on Medium and Twitter:https://bitcointechtalk.com/the-anatomy-of-proof-of-work-98c85b6f6667https://twitter.com/hugohanoi
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“The BCB enforces the strictest deposit regulations in the world by requiring full reserves for all accounts. This is the digital equivalent of the Chicago Plan or the Austrian 100% reserve gold standard.” -Pierre Rochard
Looking for every significant piece of literature on Bitcoin, Cryptography, and the Cypherpunks? You can find pretty much all of it at the Nakamoto Institute:https://nakamotoinstitute.org/mempool/the-bitcoin-central-banks-perfect-monetary-policy/
Follow Pierre Rochard on Twitter and be sure to listen to the Noded Podcast:https://twitter.com/pierre_rochardhttps://twitter.com/NodedPodcast
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Autopilot, Channel Names, Verify from Scratch, Node Nicknames and more. Hear about the features in the new Casa Bitcoin and Lightning node!
Check out the full article and follow @CasaHODL on Medium and Twitter so you don't miss the other incredible things the team is building:https://medium.com/casa/features-of-the-casa-node-884f702e2164
Check out the Cases Store and get your own Lightning Node!https://store.casa/
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"The Cryptopocalypse is coming — Bitcoin’s (PoW) is so bad that it’s going to destroy the world in 2020!" -DanHeld
Is Bitcoin's energy consumption going to destroy the world... or not?Clap for the article on Den Held's Medium page:https://medium.com/@danhedl/pow-is-efficient-aa3d442754d3
Check him out on Twitter:https://twitter.com/danheld
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“No equation, no chart in this fourth part. Just a short discussion about the total cost of Bitcoin’s PoW. It will offer us the opportunity to introduce another fundamental property of PoW which makes it truly unique.” -LaurentMT
Check out the full series (and drop some applause) plus other amazing work from @LaurentMT on his Medium page:https://medium.com/@laurentmt/electric-money-e2cd34f78f56
Follow @LaurentMT on Twitter:https://twitter.com/LaurentMT
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“In this third part, we’re going to focus on a slightly different question: “Is the system running at its optimum?” -LaurentMT
Check out the full article to explore the charts and graphics illustrating his arguments and metrics (and don't forget to drop applause for the excellent work):https://medium.com/@laurentmt/cliffhangers-cb87ed47124e
Follow @LaurentMT on Twitter:https://twitter.com/LaurentMT
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Listen to @Laurentmt's article explaining how the Yin and Yang of Bitcoin, Hodling & Mining, affect the efficiency of the system and how they drive the system's dynamics.
Don't forget to drop some applause on the article and check out the author's other awesome work here:https://medium.com/@laurentmt/the-yin-and-yang-of-bitcoin-bf056f3fd58c
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“At last, we have derived two metrics which both suggest that contrary to a widespread opinion, Bitcoin’s PoW is actually becoming more and more efficient.” -@Laurentmt
Listen to Part 1 of @Laurentmt’s excellent series introducing the fundamental characteristics and value proposition of Bitcoin’s POW function.
Don't forget to drop some applause on the article and check out the author;s other awesome work here:https://medium.com/@laurentmt/gravity-10e1a25d2ab2
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“If we do nothing, new technologies will give the government new automatic surveillance capabilities that Stalin could never have dreamed of. The only way to hold the line on privacy in the information age is strong cryptography.” -Phil Zimmerman
Explore this article & the immense collection of other works at the Nakamoto Institute:https://nakamotoinstitute.org/why-i-wrote-pgp/
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Building applications, expanding alternative media, software is eating the world, what's inside the ICOs & altcoins, the future of Bitcoin, the Lightning Network, and the revolution this technology could bring!
Don’t miss our chat with @TheOneVortex!Check out the incredible work he & others are doing to expand access and development in the #Bitcoin space:http://theonevortex.com/https://programmingwithbitcoin.com/http://www.cryptocast.network/
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“Ever since its inception Bitcoin has never really been private…. Fortunately, spying on Bitcoin users is becoming increasingly difficult.” - Aaron Van Wirdum
Listen to another great read on Bitcoin Magazine about the amazing tech available today, and yet to come that will make #Bitcoin the true PrivacyCoin of the future.
Check out the article and explore the many links on Bitcoin Magazine here:https://bitcoinmagazine.com/articles/bitcoin-privacycoin-tech-making-bitcoin-more-private/
Don't forget to follow @BitcoinMagazine and @AaronvanW:https://twitter.com/AaronvanWhttps://twitter.com/BitcoinMagazine
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“To borrow from Nick Szabo, Bitcoin is a socially scalable, conflict preventing protocol.” - Tuur Demeester
Today we read an excellent Tweet Storm from Tuur Demeester about #Bitcoin and what makes it a true monetary revolution.
Check out the full post here:https://twitter.com/TuurDemeester/status/1009825254024335361
Don't forget to also follow:https://twitter.com/real_vijayhttps://twitter.com/KoenSwinkels
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"You’ve heard of Bitcoin. You do not like it... It relies on curious, antiquated ideas like sound money, peer-to-peer networking, the abolition of seignorage, and censorship-resistance. It is profoundly distasteful." -nic carter
Don't waste anymore time trying to decide which criticism of Bitcoin to write about and outsource it with the Bitcoin FUD dice! A fun piece from Nic that holds a painful degree of truth. Check out the shop to buy your own FUD dice using #Lightning payments:FUDdice.shop
Applaud for the full article and explore Nic's other great work:https://medium.com/castle-island-ventures/how-to-critique-bitcoin-a-guide-3e36b26f9642
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"The Third Era will start with civil war" -Rusty Russell
The future economic reality of the Bitcoin ecosystem has been hard-coded into the consensus since the very first block. The inevitable pains that the future will bring should not surprise us. Listen to Rusty Russell's discussion of Bitcoin's three economic eras.
Check out the full article and lengthy list of footnotes for clarifications and further reading:https://medium.com/@rusty_lightning/the-three-economic-eras-of-bitcoin-d43bf0cf058aFollow him on Twitter:https://twitter.com/rusty_twit
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“We shouldn't make full nodes harder to run, EVER” -@giacomozucco
Listen to the tweet storm laying out exactly why a responsible #Bitcoin maximalist should hold this view in today’s #CryptoQuikRead!
See the original Tweet storm and Follow Giacomo Zucco below:https://twitter.com/giacomozucco/status/1009281116837175296
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The infrastructure and businesses in the Cryptoconomy are set to have a massive shift in the coming months. The #Bitcoin ecosystem may be difficult to recognize in the near future. that makes it critical not to forget the lessons our short but eventful history has taught us so far. Today we read Jimmy Song’s article on Segwit2x, and how industry leaders almost killed Bitcoin.Drop applause on the original article and explore further reading on this by checking it out on Medium:https://bitcointechtalk.com/segwit2x-bugs-explained-8e0c286124bc
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Hashing out all the major pain points, who to trust, building your filter, and where to start when it comes to learning everything about Bitcoin today! Don't miss a fun chat with @CitizenBitcoin.
Check out the podcast over at:https://citizenbitcoin.world/
The exciting developments I shared from the intro can be found here:https://medium.com/casa/announcing-the-casa-lightning-node-596df7a7427https://store.casa/lightning-node [Store]https://t.me/SamouraiWallet [Telegram]https://samouraiwallet.com/
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“Lightning Network provides a framework to measure the time-value of bitcoin, a precursor for a capital market and reserve currency status.” -Nik Bhatia
Today we jump back into @timevalueofbtc’s 4 part series with Part 2, ”The Time Value of Bitcoin.”
Don't forget to check out his many other articles and discussion on building financial markets in the Bitcoin ecosystem. Applaud the original article here:https://medium.com/@timevalueofbtc/the-time-value-of-bitcoin-3807b91f02d2
Don't miss the other episodes chatting with Nik and reading his other great work.CryptoChat_003 with Nik Bhatia: https://cryptoconomy.podbean.com/e/cryptochat_003-nik-bhatia-on-the-future-of-bitcoin-financial-markets/LNRR Part 1: https://cryptoconomy.podbean.com/e/cryptoquikread_132-the-bitcoin-second-layer/LNRR Part 3: https://cryptoconomy.podbean.com/e/cryptoquikread_109-the-bitcoin-risk-spectrum/
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-- “Lightning is a promising technology, but right now, very few people are fluent with it,” Chaincode Labs engineer James O’Beirne told Bitcoin Magazine.--
Another great piece form Amy Castor at Bitcoin Magazine. Today we read “Chaincode’s Residency Program is Back, This Time with Lightning”
Check out the article and the incredible work happening over at @BitcoinMagazine:https://bitcoinmagazine.com/articles/chaincodes-residency-program-back-time-lightning-app-classes/Explore the long list of Amy Castor's written work on her website:https://amycastor.com/my-writing/And don't miss @CitizenBticoin's podcast to hear us discuss Eric Wall's tweet thread on "ICO idiocy":https://citizenbitcoin.world/
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“People have speculated on what a future with fat protocols will look like. File sharing protocols aren’t exactly the same, but they have a lot of similarities we can learn from.” @backus
Today we read one from John Backus about the history of P2P file sharing protocols and what the #Bitcoin and #Crypto communities could learn from it.Appluad the article on Medium and follow the enormous number of links for further exploration:https://medium.com/@jbackus/fat-protocols-arent-new-42d2c538db41
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“That’s right: while we’re here still trying to wrap our minds around Layer 2 solutions, these mad scientists are already proposing a system with three layers” @DZack23
Today we conclude the incredible piece by Daniel Goldman on the new tools of "The Lightning Network 2.0" [Part 2].
Check out the full article, @DZack23's other work, and tons more at The Abacus Crypto Journal:https://blog.theabacus.io/lightning-network-2-0-b878b9bb356ehttps://blog.theabacus.io/
Mentioned in the Episode:https://twitter.com/alexbosworthhttps://cryptoconomy.podbean.com/e/cryptoquikread_076-the-verge-hack-explained/https://cryptoconomy.podbean.com/e/cryptoquikread_094-lets-do-the-time-warp-again-verge-hack-part-deux/https://cryptoconomy.podbean.com/e/cryptochat-with-daniel-goldman-verge-digital-gold-forks-and-going-down-the-rabbit-hole/
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“Thing is, as these debates rage on, there’s a community of developers coming up with new ideas and, ya know, actually building stuff.” @DZack23
Today we explore a breakdown of the specific limitations of Lightning, and technologies being built to break through them, with Part 1 of The Lightning Network 2.0 by Daniel Goldman.
Check out the full article, @DZack23's other work, and tons more at The Abacus Crypto Journal:https://blog.theabacus.io/lightning-network-2-0-b878b9bb356ehttps://blog.theabacus.io/
Mentioned in the Episode:https://twitter.com/alexbosworthhttps://cryptoconomy.podbean.com/e/cryptoquikread_076-the-verge-hack-explained/https://cryptoconomy.podbean.com/e/cryptoquikread_094-lets-do-the-time-warp-again-verge-hack-part-deux/https://cryptoconomy.podbean.com/e/cryptochat-with-daniel-goldman-verge-digital-gold-forks-and-going-down-the-rabbit-hole/
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"Thinking about it, isn’t it ironic that, over the past years I wrote about every Bitcoin privacy technique in existence, except the one that 99% of all users use?" @nopara73
Today we dive into a great short article on traditional Bitcoin mixing servies from the ultimate in Privacy development @nopara73! Don't miss this one to close out the week :)
Check out the full article and his other work on Medium:https://medium.com/@nopara73/traditional-bitcoin-mixers-6a092e59d8c2
Wasabi Wallet (Zerolink)ZeroLinkJoinMarketBreeze Wallet (TumbleBit)TumbleBit

"At least 99M People intend to own crypto, but don’t yet." @RyanRadloff
A fun exploration by Ryan Radloff on the different demographics who intend to invest in Bitcoin & Crypto, and what might drive the next Bitcoin adoption cycle.Drop some applause on the medium article and check out the CoinShares Blog:https://medium.com/coinshares/half-of-the-remaining-non-minted-bitcoin-supply-is-spoken-for-10df2a45e45d
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"So instead, I'm going to tell a story that makes the function of the Lightning Network less abstract and hopefully, easier to picture in your mind. We will do this by explanation of the system that runs The Panama Canal." @TheCryptoconomy
Dont forget to drops some applause on my article if you enjoyed this episode and feel free to support my work by donating below!https://medium.com/@thecryptoconomy
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“In the end, learning is both science and art. It is science when your domain is structured, and art when it is not.” @Hosseeb
Don’t miss today’s episode about learning the things that no one can teach you. Reading “The Hard Thing About Learning Hard Things” by Haseeb Qureshi.
Drop some Applause at the full article on the freecodecamp.org Medium publication:https://medium.freecodecamp.org/the-hard-thing-about-learning-hard-things-168e655ac7f2
Explore a ton of other awesome work by Haseeb Qureshi:https://haseebq.com/
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"Forget currencies and commodities… perhaps the right analogy for Bitcoin is LAND!" Flashback from 2014 with @gendal in an analogy that presents a unique and interesting perspective of what it means to own a Bitcoin. Today's QuikRead, "Welcome to Bitcoin Island!"Check out @gendal's blog for other great work and see the original article:https://gendal.me/2014/03/29/welcome-to-bitcoin-island/
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"...The age of controlled money had arrived — and with it, world wars, depression and inflation, enormous government indebtedness, and the rise of leviathan states that learned to print their way to power and riches." -Jeffrey Tucker
Check out the article plus other great work at the American Institue for Economic Research:https://www.aier.org/article/governments-and-central-banks-should-look-gold-not-crypto#.W2mLSFKB_D8.twitter
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“This makes Lightning Network an absolute game changer for the entire concept of capital markets: income without explicit counterparty default risk.” @timevalueofbtc
Don't miss Nik Bhatia's other excellent work on his Medium page, and give a round of applause for today's article:https://medium.com/@timevalueofbtc/the-bitcoin-second-layer-d503949d0a06
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“It is impossible for Bitmain to divest their BCH holdings onmarket. Full stop. The BCH markets are not liquid enough to absorb the amount of coins Bitmain is still holding” -@CryptoHerpesCat
Follow Crypto Herpes Cat on Twitter:https://twitter.com/CryptoHerpesCat
Check out the full article and @CryptoHerpesCat Medium page for more excellent work:https://medium.com/@btcWolves/a-bch-update-bitmain-bch-the-ipo-what-it-all-actually-means-354220b86ac3
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“I’m going to expose the Washington Post/Wonkblog piece for the nonsensical ramble that it is… in short, it relies on mistaken assumptions to paint a misleading picture of the world.” -Nic Carter
Read the full article and explore the many great links and resources:https://medium.com/@nic__carter/media-coverage-of-bitcoin-is-still-a-total-disaster-7d0d34d98971
Check out Nic's full medium page of other work:https://medium.com/@nic__carter
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“On April 25, 2018, I anonymously and privately disclosed a critical vulnerability in Bitcoin Cash, one of the world’s most valuable cryptocurrencies…” - Cory Fields
Hear the full story in today’s read of Core dev Cory Fields' recount of the events.
Check out the full article here:https://medium.com/mit-media-lab-digital-currency-initiative/http-coryfields-com-cash-48a99b85aad4
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Will hundreds of coins flourish? Will economic thought change completely? Will it be a force for good or evil? And will Bitcoin even survive? All this and more in the second half of Daniel Jeffries great piece on the Future of Bitcoin!
Don't miss his other great article on Hacker Noon, plus the many links and further reading in today's article:https://hackernoon.com/what-will-bitcoin-look-like-in-twenty-years-7e75481a798c
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Will the price increase forever? Will government currencies be a thing of the past? Will there be a singular, global economy? And how do we make interesting predictions in the first place? All this and more in the first half of Daniel Jeffries great piece on the Future of Bitcoin.
Don't miss his other great article on Hacker Noon, plus the many links and further reading in today's article:https://hackernoon.com/what-will-bitcoin-look-like-in-twenty-years-7e75481a798c
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Price prediction is a tricky game, but there is some fundamental analysis that may tell us more about the broad trends. Tuur Demeester looks at retail interest, institutional hesitancy, and Metcalf's law for a current perspective in: "Bitcoin: We Don't Expect New Highs in 2018."
Don't forget to applaud+follow+check out the charts and data with the full article:https://medium.com/@tuurdemeester/bitcoin-we-dont-expect-new-highs-in-2018-97e6a7a385f7
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Mises' and Menger’s theories of money provide deep insight, but invariably never attempted to rank the functions of money during its period of establishment. To fill the gap, Fernando Ulrich explains why he believes a Store of Value must arise before a money becomes a Medium of Exchange.Don't forget to clap for the article on Medium and check out the rest of this series:https://medium.com/@Ulrich_98986/why-money-has-value-and-spending-bitcoin-is-senseless-d2390127dc34
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Is ASIC resistance really the panacea that some claim it is? Will it solve the never ending challenges of a decentralized network? Or is it just a buzzword used to sell Bitcoin alternatives? Find out in @StopAndDecrypt's thorough piece on ASIC resistance.
Check out the medium page for the links and graphics, plus drop some applause for the excellent work:https://medium.com/@StopAndDecrypt/asic-resistance-is-nothing-but-a-blockchain-buzzword-b91d3d770366
If you would like to hear the referenced article on mining centralization at blog.sia.tech:https://cryptoconomy.podbean.com/e/cryptoquikread_069-the-state-of-cryptocurrency-mining/
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In closing out the week we have one last piece on the economics behind Bitcoin and the natural market economy. We read the classic piece “I, Pencil” by Leonard E. Read posted on Fee.org.
Check out the post itself to read the Foreward & Afterward, plus don't miss the excellent collection of work at Fee.org:https://fee.org/resources/i-pencil/
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What if “hoarding” money is both realizing its most important utility, and stabilizing in an uncertain economy? If true, how could the exact opposite belief be so widespread? Don’t miss our read from Hans Hermann Hoppe on Mises.org to find out more!
Check out the full article plus an exhaustive collection of economic theory at Mises.org:https://mises.org/library/yield-money-held-reconsidered
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Taking a break from Bitcoin maximalism to have a chat with John Wolpert (@Consensys, @IBMblockchain, @Hyperledger) for what consensus protocols and blockchain can do for the future of decentralization, trust, and privacy! Don’t miss today’s episode!
Don't forget to check him out on Twitter and Medium:https://twitter.com/jwolperthttps://medium.com/@jwolpert
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“This game, underlying FOMO3D (F3D), is called “The War of Attrition” and it can produce some insanely irrational outcomes… Human beings tend to play terribly and lose.” Don't miss Matt Stephenson's great piece on how FOMO3D exploits "dangerous game theory."
Dont forget to applaud the article on medium and dig a little deeper with part 2:https://hackernoon.com/fomo3d-and-dangerous-game-theory-97bd5f47ab3b
Part 2:https://blog.coinfund.io/can-a-good-smart-contract-beat-blockchains-new-12m-ponzi-yes-in-theory-6964eead5b84
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Many different and often conflicting ideas of what Bitcoin is, and what it's future should be, have emerged throughout the years. Here @nic_carter's and @hasufl's exploration of past, present, and future narratives that molded Bitcoin into what it is today.
Don't forget to clap for the article on Medium and check out the graphs and timeline visualizing the Bitcoin narrative history:https://medium.com/@nic__carter/visions-of-bitcoin-4b7b7cbcd24c
Check out both of their Medium pages for more great work:https://twitter.com/nic__carterhttps://twitter.com/hasufl
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The SEC has disapproved the Winklevoss twin's second attempt at a Bitcoin ETP for traditional markets. Rife with contradictions & misunderstandings, a thorough rebuttal comes in a "Letter of Dissent" from none other than the SEC Commissioner herself! Don't miss today's episode!
Links to content referenced and sourced to bring together the information for today’s episode:
https://bitcoinmagazine.com/articles/winklevoss-bitcoin-etf-proposal-denied-us-sec/https://www.coindesk.com/winklevoss-brothers-bitcoin-etf-rejected-by-sec-for-second-time/https://www.sec.gov/rules/other/2018/34-83723.pdfhttps://www.sec.gov/news/public-statement/peirce-dissent-34-83723#.W1o-36vBMDU.twitter
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Bitcoin is the first truly decentralized registry for property ownership. The first application of which is value in its most abstract form, money. But how can we extend this to physical property and titles outside of political institutions? Who better to explore the topic with than Nick Szabo (@nickszabo4)? “Securing Property Titles with Owner Authority.”
Check out other detailed work on this concept and more with the excellent collection of literature at the Nakamoto Institute:https://nakamotoinstitute.org/secure-property-titles/#selection-7.7-7.50
Video with Peter Wuille referenced in the commentary:https://www.youtube.com/watch?v=YSUVRj8iznU
My own article referenced in the commentary:Written - https://medium.com/@thecryptoconomy/7-misunderstandings-of-bitcoins-scaling-problem-c5142e938a68Audio - https://www.podbean.com/media/share/pb-t7qjf-8e4fe2
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With the huge number of conversations and claims of income inequality, the central banking monetary policy, which directly benefits the wealthy and financial sector, is almost entirely ignored. What if it's the largest piece of the inequality puzzle? Listen to Louis Rouanet’s piece from Mises.org.
Check out the full article and other amazing content from Mises.org:https://mises.org/library/how-central-banking-increased-inequality
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Today we have a dual QuikRead with Nikhilesh De's Coindesk article regarding the Direxion ETF and the SEC's decision to postpone until September. Plus Jake Chervinsky's comments and clarification on SEC processes in his informative Twitter thread. Listen for more details!
Check out the full @Coindesk article by @nikhileshde:https://www.coindesk.com/sec-delays-decision-on-direxions-bitcoin-etfs-until-september/
Link to @jchervinsky's Twitter thread:https://twitter.com/jchervinsky/status/1021795224958455810
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The Lightning Reference Rate, Changes in Lightning Tech #eltoo, Returns without Counterparty Risk, CFA Institute Enters Crypto, ETFs on the horizon, Futures, and a revolution in Financial Markets. Listen to this CryptoChat with Nik Bhatia for all this and more!
Previous episode covering @timevalueofbtc's article "The Bitcoin Risk Spectrum":https://cryptoconomy.podbean.com/e/cryptoquikread_109-the-bitcoin-risk-spectrum/Links to the full article and Bhatia's (@timevalueofbtc) Medium page. Don't forget to clap for his article on Medium if you enjoyed the episode!https://medium.com/@timevalueofbtc/the-bitcoin-risk-spectrum-949f6abec290
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“We’re as excited about Lightning, Schnorr signatures, Taproot/Graftroot and scriptless scripts as any other Bitcoin engineers, but the project’s focus is on technology that can be deployed by companies today.” - @bitcoinoptech
Those mentioned in the commentary:@jfnewbery@starkness@Melt_Dem@BtcpayServer
Check out the official announcement from @bitcoinoptech and check out their newsletter below:https://bitcoinops.org/en/announcing-bitcoin-optech
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Thanks to the incredible work by Pieter Wuille (@pwuille) and others, #Schnorr signature scheme has an official proposal. Despite still much work and testing to be done, schnorr is poised to grant #Bitcoin a plethora of amazing improvements. Listen to @AlyssaHertig’s article from @coindesk to learn more!
Check out the article and other news and developments throughout the Cryptoconomy at:https://www.coindesk.com/schnorr-is-looking-poised-to-become-bitcoins-biggest-change-since-segwit/
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The future of #Crypto, Bitcoin, New Developments, Shitcoins?, and really really Bad Movies! Don't miss a great time with the FAGcast crew!
Follow them on Twitter!
@CarCampIt
@birdarchist
Check out their Awesome Podcast!
https://friendsagainstgovernment.podbean.com/
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“It's actually the protocol (Nakamoto consensus, which is highly distributed) combined with strong cryptography, rather than just decentralization per se, that is the source of the far higher reliability and and much lower vulnerability of block chains.” @NickSzabo4
Check out Szabo’s incredible blog, Unenumerated, at:https://unenumerated.blogspot.com/2014/12/the-dawn-of-trustworthy-computing.html
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“We are soon going to be able to use Bitcoin in an end-to-end, fully anonymous way.” - @nopara73
Check out the article and other links at:https://medium.com/@nopara73/wasabi-privacy-focused-bitcoin-wallet-for-desktop-3962d567045a
Check out his talk from Building on Bitcoin starting at 17min:https://youtu.be/XORDEX-RrAI?t=17m
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The 4th in the excellent Genesis Files Series from Aaron Van Wirdum (@AaronvanW) and Bitcoin Magazine (@BitcoinMagazine). Today we read about BitGold and How Nick Szabo (@NickSzabo4) was "Inches From Inventing Bitcoin."
Check out the full article, the previous of the Genesis Files series, and other excellent work from Aaron Van Wirdum and the crew at Bitcoin Magazine:https://bitcoinmagazine.com/articles/genesis-files-bit-gold-szabo-was-inches-away-inventing-bitcoin/
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“Given an adversarial environment I don’t believe you can maintain secure decentralized consensus AND have timely confirmation between arbitrary parties AND scale up to a large number of nodes/transactions." - @SarahJamieLewis
Check out her article and other work at:https://fieldnotes.resistant.tech/dags-and-decentralization/
And don’t forget to follow her on Twitter @SarahJamieLewis
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"Bitcoin staked to Lightning is the most unique income producing asset in all of monetary history: income with zero counterparty risk. The historical implications of this on capital markets are tremendous." - Nik Bhatia
Check out the article and follow @timevalueofbtc for other great stuff:https://medium.com/@timevalueofbtc/the-bitcoin-risk-spectrum-949f6abec290
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"Compromising on trustlessness could help the Bitcoin price find a local maximum, at the expense of finding a much higher global maximum." - Pierre Rochard
Don't forget to drop some applause on the great article and explore other works by Pierre Rochard:https://medium.com/@pierre_rochard/bitcoin-governance-37e86299470f
Mentioned in the Episode:The Noded Podcast with Pierre Rochard and Micheal GoldsteinThe Long Road to SegWit @BitcoinMagazine by Aaron Van WirdumQuikRead of The Long Road to Segwit Episode 54 of The Cryptoconomy Podcast
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Challenges with Verge, thoughts on Bitcoin maximalism, the inevitability of forks and altcoins, and our first trips down the rabbit hole. All this and more with Daniel Goldman [@dzack23].
Find his articles at https://blog.theabacus.io/@dzack23
You can also listen to the two on The Verge Hack on episodes 76 and 94 of this podcastMentioned on the Show:The Blockchain Man - (@TaylorPearsonMe)Money, Blockchains, and Social Scalability - (@NickSzabo4) [listen here]Sharding Centralizes Ethereum By Selling you Scaling In Disguised as Scaling Out - (@StopAndDecrypt) [listen here]About My Tweet From Yesterday - (@VladZamfir)The Verge Hack Explained - (@DZack23) [listen here]
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Dai would become best known for an idea he casually announced in November 1998… “I hope this is a step toward making crypto-anarchy a practical as well as theoretical possibility.” He called his proposal B-Money. -Aaron Van Wirdum
Be sure to check out Aaron’s extensive work and the always excellent journalism from the Bitcoin Magazine team:https://bitcoinmagazine.com/articles/genesis-files-if-bitcoin-had-first-draft-wei-dais-b-money-was-it/
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“You have to remember that you chose this path not because you didn’t have any options, but because you knew you could create even more options for yourself.” -Jill Carlson
Check out the article in full as well as Jill’s other works on her medium page:https://medium.com/@jillcarlson/working-alone-165ababeafc2
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"A Statist is a man or woman who believes that only the State should be the final arbiter of every activity man can engage in. In Bitcoin, Statists are a constant irritant and lethal toxin." @Beautyon_
Check out the full article, other fun works by Beautyon_, and the great publication at HackerNoon:https://hackernoon.com/why-you-cant-understand-bitcoin-98a5e5f86241
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